I think the other thing they do is decrease the image quality when multiple people are simultaneously connected. This is a nice hack since you don't really notice the difference, and users blame bad images on the network not the product.
The biggest challenge to their business IMO is if/when WebRTC becomes stable between all browsers. There are still many kinks that need to be worked out. Everything falls apart in the P2P version when you have more than like 5 people connected as the amount of information that needs to be transferred across the network scales exponentially.[0] So you need to add a gateway and connect everyone over a single pipe.
more details - https://webrtchacks.com/zoom-avoids-using-webrtc/
That's the great thing. There might be an entire market of options out there for an idea, but if they don't get something like reliability right, then that's the easiest foot in the door.
I would be much more worried about competition. Video conferencing has a small moat especially since major incumbents are already in the space
Product differentiation introduces pricing power for individual firms, and depending on the style of competition you think will occur (e.g., Cournot oligopoly vs. Bertrand), you may very well never approach anything close to perfect competition with the small number of firms there are in this market.
...in a perfectly competitive market. In a situation where monopoly rents can be charged (which is what having a moat is about), prices should hit the point where unit price × sales - cost is maximized.
Product management is a fine art... Maybe Microsoft and Google will manage to catch up, maybe in trying so they’ll dig themselves further into a hole...
People tend to underestimate just how different it is at most companies to modify/increase an existing agreement vs. setting up a new one.
WebEx and GoTo charge (quite a lot), and both are seriously ropey.
https://finance.yahoo.com/quote/ZOOM?p=ZOOM
More seriously for a very early stage company with a large market P/E is probably not a good measure.
It's 2250 now! Weeeeeeee
I actually use their software and love it, but do they really have a secret sauce that won't be copied soon?